Remortgage with a CCJ
Fixed rate mortgages are a popular way for the majority of individuals to capitalise on the best available financial products on the market. However, after the initial fixed rate period these deals usually revert to back interest rates that are no longer competitive. In reality, many borrowers pay more interest than they have to, which ultimately may cost them a significant amount in the long term.
It is important to stay vigilant to avoid paying more interest than necessary; it may be beneficial to explore remortgaging a property to secure better rates. Though remortgaging a property may be difficult with adverse credit or even a County Court Judgment.
You may receive a County Court Judgment (CCJ) in the event that someone says that you owe them money and takes court action against you. Furthermore, you will receive Judgment if a court orders you to pay the alleged debt.
If you do not repay the moneys within a month of receipt of the Judgment then it will remain on record for up to six years, which will make it difficult to secure finance from traditional lenders.
Here at Fair Mortgages, we work with lenders who are prepared to assist those looking to remortgage with a CCJ. Our strong links with private banks, specialist lenders, family offices and wealth managers allow us to arrange the best financial solutions for our clients.
Our CCJ Remortgage Service
Our independent mortgage broker service offers:
Access to the whole market – we can compare most UK lenders who will deal with bad credit ratings.
Credit repair mortgages – we can source remortgaging solutions that will provide the money you need and help you rebuild your credit rating.
Finance within a short period of time – contact us today and we can secure the funding you need swiftly.
Financial solutions for raising additional funding on top of an existing mortgage – If you have an existing mortgage that does not cater for your needs, we can help.
If you want to see how much you could save on your monthly mortgage payments, use our free remortgage calculator
Remortgage with Private Lenders
Before a private lender agrees to remortgage a property, they will usually require:
- Details of your existing mortgage: A full breakdown of the finance you already have in place
- Proof of income: A number of pay slips will be requested
- Bank statements: You will need to provide a certain amount of bank statements to prove you can afford the monthly repayments.
How to Remortgage a Property with a CCJ
Remortgaging may give you the freedom to release equity in your existing property or it could significantly reduce your monthly mortgage payments
If you have a CCJ but need to remortgage a property, call our mortgage team on 0117 313 7780 to discuss your situation or use our Callback form.